Fortuna Mining (NYSE:FSM) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Fortuna Mining (NYSE:FSM) (TSE:FVI) from a hold rating to a buy rating in a research report report published on Sunday.

A number of other analysts have also recently weighed in on the company. CIBC upped their price target on Fortuna Mining from $7.00 to $8.00 and gave the company an “underperformer” rating in a research report on Tuesday, July 15th. Zacks Research downgraded shares of Fortuna Mining from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. BMO Capital Markets reiterated an “outperform” rating on shares of Fortuna Mining in a research report on Friday, August 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Fortuna Mining in a report on Tuesday, October 14th. Finally, Scotiabank upped their price objective on shares of Fortuna Mining from $8.50 to $10.50 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Fortuna Mining presently has an average rating of “Hold” and an average target price of $9.25.

Fortuna Mining Price Performance

FSM traded up $0.23 during midday trading on Friday, reaching $8.42. 13,480,590 shares of the company’s stock were exchanged, compared to its average volume of 15,821,763. The company has a quick ratio of 2.15, a current ratio of 2.71 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $8.38 and a two-hundred day simple moving average of $7.19. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 16.84 and a beta of 0.85. Fortuna Mining has a one year low of $4.13 and a one year high of $9.81.

Fortuna Mining (NYSE:FSM) (TSE:FVI) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.08). Fortuna Mining had a net margin of 14.36% and a return on equity of 12.74%. The company had revenue of $246.75 million during the quarter, compared to the consensus estimate of $242.19 million. As a group, research analysts predict that Fortuna Mining will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. grew its position in shares of Fortuna Mining by 100.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,000 shares of the basic materials company’s stock worth $26,000 after buying an additional 2,000 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Fortuna Mining by 126.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,813 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 2,691 shares during the period. Osaic Holdings Inc. grew its holdings in Fortuna Mining by 96.7% during the 2nd quarter. Osaic Holdings Inc. now owns 6,116 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 3,006 shares during the period. Farther Finance Advisors LLC bought a new stake in shares of Fortuna Mining during the 2nd quarter valued at $42,000. Finally, Virtus Advisers LLC acquired a new position in shares of Fortuna Mining in the 1st quarter valued at $58,000. 33.80% of the stock is currently owned by institutional investors and hedge funds.

About Fortuna Mining

Fortuna Mining Corp. engages in the precious and base metal mining in Argentina, Burkina Faso, Mexico, Peru, and Côte d’Ivoire. It operates through Mansfield, Sanu, Sango, Cuzcatlan, Bateas, and Corporate segments. The company primarily explores for silver, lead, zinc, and gold. Its flagship project is the Séguéla gold mine, which consists of approximately 62,000 hectares and is located in the Worodougou Region of the Woroba District, Côte d’Ivoire.